How Do You Use Ultimate Oscillator MT4 Indicator?
Ultimate Indicator Analysis Buy & Sell Signals
Ultimate Oscillator indicator is an oscillator indicator that aims at striking a balance between leading signals and lagging signals given by the common indicators.
- Leading indicators - some indicators lead the market and give signals earlier than the optimum time
- Lagging indicators - some indicators lag the market so far that half of the price move is over before a signal gets generated.
This is the balance that the Ultimate Oscillator indicator aims to strike - not to lead the price too much or lag the price too much - this way the Ultimate Oscillator indicator will always give a signal at the ultimate time and thus its name.
How to Add MT4 Ultimate Oscillator Technical Indicator in MetaTrader 4 Charts
Ultimate Oscillator indicator uses three different n-number of price periods & calculates the combined weighted sums of price move from these price periods & draws these values on a scale ranging from 0 to 100. Ultimate Oscillator indicator values above 70 are considered to be overbought levels while Ultimate Oscillator indicator values below 30 are considered to be oversold levels.
The time periods used to calculate the ultimate oscillator are 7 price periods (short term trend), 14 price periods (intermediate term trend) and 28 price periods (long term trend).
How to Generate Buy and Sell Signals
Ultimate Oscillator indicator can be used in generating buy signals & sell signals using various analysis methods.
Center line Cross over Signals
Buy Signal - Ultimate Oscillator indicator values above 50 center line level are interpreted as a buy signal
Sell Signal - Ultimate Oscillator indicator values below 50 center line level are interpreted as a sell signal
Bearish Sell Signal
Overbought/Oversold Levels on Indicator
Overbought Levels - Ultimate Oscillator indicator values above 70 - interpreted as sell signal
Oversold Levels - Ultimate Oscillator indicator values below 30 - interpreted as buy signal
Divergence FX
The Ultimate Oscillator indicator can also be used to trade divergence signals - below is Ultimate Oscillator indicator example of a classic bearish divergence signal.
Technical Analysis of MT4 Indicator Ultimate Oscillator Technical Indicator
How to Add MT4 Ultimate Oscillator Technical Indicator in MT4 Charts
Step 1: Open MT4 Software Navigator Panel
Open MetaTrader 4 Navigator panel as shown below: Go to 'View' menu (click), then choose 'Navigator' panel (click), or From Standard Tool-Bar click 'Navigator' button or press keyboard MT4 short-cut keys 'Ctrl+N'
On MetaTrader 4 Navigator window, select "Indicators", by DoubleClick
How Do You Use MetaTrader 4 Ultimate Oscillator Indicator?
How to Add Ultimate Oscillator MT4 Indicator
Expand the menu by clicking the expand button (+) or double click the 'indicators' menu, after this the button will appear as (-) and it will then display a list of MT4 indicators as shown below - choose the Ultimate Oscillator technical indicator from this list of MT4 indicators so that you can add the Ultimate Oscillator MT4 indicator on the MT4 chart.
How Do You Use MetaTrader 4 Ultimate Oscillator Indicator?
How to Install and Place Custom Ultimate Indicator MetaTrader 4
If the MT4 indicator that you want to add on the MT4 charts is a custom MetaTrader 4 indicator - for example if the Ultimate Oscillator indicator that you want to add is a custom MT4 indicator you will need to first add this custom Ultimate Oscillator MT4 indicator on the MT4 platform and then compile this custom Ultimate Oscillator technical indicator so that this newly added Ultimate Oscillator MT4 custom indicator appears on the custom technical indicators list on the MT4 platform.
To learn how to add Ultimate Oscillator indicators on MT4 software - how do you add Ultimate Oscillator indicator window to MT4 software? - how do you add Ultimate Oscillator custom indicator on MT4 software? - How to add a custom Ultimate Oscillator custom indicator on MT4.
How Do I Use MetaTrader 4 Ultimate Oscillator Indicator?
